Subtext

Aflac Incorporated AFL

SectorFinancials
Transcripts67
Date range2008-02-01 – 2025-05-01
Calls charted67

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-14-7+0+7+142007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22007 Q4 · Overall: +6.92008 Q1 · Overall: +7.22008 Q2 · Overall: +2.52008 Q3 · Overall: -3.62008 Q4 · Overall: -6.42009 Q1 · Overall: -9.02009 Q2 · Overall: +2.32009 Q3 · Overall: -1.72009 Q4 · Overall: +6.02010 Q1 · Overall: +0.12010 Q4 · Overall: +2.52011 Q1 · Overall: +3.92011 Q2 · Overall: +1.82011 Q3 · Overall: +1.62012 Q1 · Overall: +4.32012 Q2 · Overall: +4.62012 Q3 · Overall: +7.02012 Q4 · Overall: +7.02013 Q1 · Overall: +2.02013 Q2 · Overall: +1.62013 Q3 · Overall: +4.62013 Q4 · Overall: +1.32014 Q1 · Overall: +0.72014 Q2 · Overall: +6.42014 Q3 · Overall: +5.72014 Q4 · Overall: +3.32015 Q1 · Overall: +5.52015 Q2 · Overall: +7.22015 Q3 · Overall: +10.32015 Q4 · Overall: +3.42016 Q1 · Overall: +4.22016 Q2 · Overall: +2.22016 Q3 · Overall: +7.42016 Q4 · Overall: +6.62017 Q1 · Overall: +7.52017 Q2 · Overall: +9.22017 Q3 · Overall: +7.42017 Q4 · Overall: +11.42018 Q1 · Overall: +4.92018 Q2 · Overall: +8.02018 Q3 · Overall: +3.02018 Q4 · Overall: +8.42019 Q1 · Overall: +7.42019 Q2 · Overall: +5.62019 Q3 · Overall: +1.62019 Q4 · Overall: +9.42020 Q1 · Overall: -9.52020 Q2 · Overall: +0.12020 Q3 · Overall: +5.22020 Q4 · Overall: +11.02021 Q1 · Overall: +3.32021 Q2 · Overall: +11.02021 Q3 · Overall: +4.52021 Q4 · Overall: +7.02022 Q1 · Overall: +3.02022 Q2 · Overall: +0.12022 Q3 · Overall: +2.42022 Q4 · Overall: -0.22023 Q1 · Overall: +1.72023 Q2 · Overall: +5.72023 Q3 · Overall: +8.82023 Q4 · Overall: +8.62024 Q1 · Overall: +0.02024 Q2 · Overall: +12.02024 Q3 · Overall: +11.32024 Q4 · Overall: +10.62025 Q1 · Overall: +7.4
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-57-29+0+29+572007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22008 Q1 · CEO: +14.52008 Q2 · CEO: +5.92008 Q3 · CEO: +2.72008 Q4 · CEO: -3.52009 Q1 · CEO: -2.82009 Q2 · CEO: +9.22009 Q3 · CEO: +2.62009 Q4 · CEO: +15.62010 Q1 · CEO: +8.82010 Q4 · CEO: +15.42011 Q1 · CEO: +14.22011 Q2 · CEO: +8.72011 Q3 · CEO: +13.62012 Q1 · CEO: +10.72012 Q2 · CEO: +10.82012 Q3 · CEO: +22.22012 Q4 · CEO: +14.72013 Q1 · CEO: +16.32013 Q2 · CEO: +3.32013 Q3 · CEO: +10.02013 Q4 · CEO: +9.92014 Q1 · CEO: +1.12014 Q2 · CEO: +9.52014 Q3 · CEO: +12.12014 Q4 · CEO: +12.62015 Q1 · CEO: +10.82015 Q2 · CEO: +14.82015 Q3 · CEO: +16.72015 Q4 · CEO: +11.22016 Q1 · CEO: +6.62016 Q2 · CEO: +6.02016 Q3 · CEO: +14.12016 Q4 · CEO: +12.02017 Q1 · CEO: +14.12017 Q2 · CEO: +20.22017 Q3 · CEO: +17.42017 Q4 · CEO: +9.62018 Q1 · CEO: +21.82018 Q2 · CEO: +18.12018 Q3 · CEO: +15.52018 Q4 · CEO: +19.02019 Q1 · CEO: +15.62019 Q2 · CEO: +20.22019 Q3 · CEO: +7.82019 Q4 · CEO: +19.32020 Q1 · CEO: +1.62020 Q2 · CEO: +10.22020 Q3 · CEO: +16.22020 Q4 · CEO: +25.62021 Q1 · CEO: +24.02021 Q2 · CEO: +26.82021 Q3 · CEO: +8.32021 Q4 · CEO: +7.52022 Q1 · CEO: +12.12022 Q2 · CEO: +26.02022 Q3 · CEO: +27.02022 Q4 · CEO: +22.72023 Q1 · CEO: +18.62023 Q2 · CEO: +27.02023 Q3 · CEO: +25.42023 Q4 · CEO: +18.52024 Q1 · CEO: +6.22024 Q2 · CEO: +20.02024 Q3 · CEO: +23.02024 Q4 · CEO: +31.52025 Q1 · CEO: +19.72008 Q1 · CFO: +0.02008 Q2 · CFO: -50.02008 Q4 · CFO: -2.32009 Q1 · CFO: -7.62009 Q2 · CFO: -18.32009 Q3 · CFO: -4.22009 Q4 · CFO: +8.32010 Q1 · CFO: -10.12010 Q4 · CFO: +0.52011 Q1 · CFO: -10.52011 Q2 · CFO: +0.02011 Q3 · CFO: -5.42012 Q1 · CFO: -2.22012 Q2 · CFO: +6.92012 Q3 · CFO: +1.02012 Q4 · CFO: +18.32013 Q1 · CFO: +0.52013 Q2 · CFO: +2.62013 Q3 · CFO: +2.22013 Q4 · CFO: -1.32014 Q1 · CFO: +6.52014 Q2 · CFO: +12.72014 Q3 · CFO: -1.92014 Q4 · CFO: -2.22015 Q1 · CFO: +4.92015 Q2 · CFO: +10.32016 Q1 · CFO: +5.52016 Q2 · CFO: +5.82016 Q3 · CFO: +8.32016 Q4 · CFO: +6.72017 Q1 · CFO: +3.72017 Q2 · CFO: +7.52017 Q3 · CFO: +9.52017 Q4 · CFO: +11.32018 Q1 · CFO: +9.02018 Q2 · CFO: +9.22018 Q3 · CFO: +4.32018 Q4 · CFO: +12.12019 Q1 · CFO: +9.62019 Q2 · CFO: +5.42019 Q3 · CFO: +7.12019 Q4 · CFO: +6.02020 Q1 · CFO: -6.52020 Q2 · CFO: +7.42020 Q3 · CFO: +7.52020 Q4 · CFO: +11.92021 Q1 · CFO: +0.42021 Q2 · CFO: +3.32021 Q3 · CFO: +6.12021 Q4 · CFO: +13.42022 Q2 · CFO: +11.22022 Q3 · CFO: -4.12022 Q4 · CFO: +1.82023 Q1 · CFO: -3.92023 Q2 · CFO: +2.32023 Q3 · CFO: +5.52023 Q4 · CFO: +17.82024 Q1 · CFO: +0.02024 Q2 · CFO: +12.72024 Q3 · CFO: +10.32024 Q4 · CFO: +11.62025 Q1 · CFO: +2.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22007 Q4 · Prepared remarks: +7.52008 Q1 · Prepared remarks: +14.62008 Q2 · Prepared remarks: +10.22008 Q3 · Prepared remarks: -1.22008 Q4 · Prepared remarks: -5.42009 Q1 · Prepared remarks: +0.32009 Q2 · Prepared remarks: +7.72009 Q3 · Prepared remarks: +8.32009 Q4 · Prepared remarks: +13.02010 Q1 · Prepared remarks: +9.52010 Q4 · Prepared remarks: +14.82011 Q1 · Prepared remarks: +6.22011 Q2 · Prepared remarks: +8.02011 Q3 · Prepared remarks: +10.52012 Q1 · Prepared remarks: +12.22012 Q2 · Prepared remarks: +11.72012 Q3 · Prepared remarks: +19.62012 Q4 · Prepared remarks: +15.62013 Q1 · Prepared remarks: +10.92013 Q2 · Prepared remarks: +6.22013 Q3 · Prepared remarks: +9.52013 Q4 · Prepared remarks: +6.52014 Q1 · Prepared remarks: +3.62014 Q2 · Prepared remarks: +6.52014 Q3 · Prepared remarks: +17.32014 Q4 · Prepared remarks: +11.82015 Q1 · Prepared remarks: +25.82015 Q2 · Prepared remarks: +18.02015 Q3 · Prepared remarks: +10.22015 Q4 · Prepared remarks: +10.42016 Q1 · Prepared remarks: +7.22016 Q2 · Prepared remarks: +12.12016 Q3 · Prepared remarks: +14.82016 Q4 · Prepared remarks: +16.32017 Q1 · Prepared remarks: +15.92017 Q2 · Prepared remarks: +21.02017 Q3 · Prepared remarks: +21.42017 Q4 · Prepared remarks: +20.12018 Q1 · Prepared remarks: +15.32018 Q2 · Prepared remarks: +19.32018 Q3 · Prepared remarks: +18.32018 Q4 · Prepared remarks: +16.52019 Q1 · Prepared remarks: +17.72019 Q2 · Prepared remarks: +18.12019 Q3 · Prepared remarks: +12.82019 Q4 · Prepared remarks: +15.32020 Q1 · Prepared remarks: -12.32020 Q2 · Prepared remarks: +0.12020 Q3 · Prepared remarks: +7.72020 Q4 · Prepared remarks: +11.02021 Q1 · Prepared remarks: +11.02021 Q2 · Prepared remarks: +14.12021 Q3 · Prepared remarks: +12.52021 Q4 · Prepared remarks: +17.22022 Q1 · Prepared remarks: +11.72022 Q2 · Prepared remarks: +8.72022 Q3 · Prepared remarks: +11.72022 Q4 · Prepared remarks: +7.72023 Q1 · Prepared remarks: +8.22023 Q2 · Prepared remarks: +14.12023 Q3 · Prepared remarks: +16.92023 Q4 · Prepared remarks: +18.62024 Q1 · Prepared remarks: +10.62024 Q2 · Prepared remarks: +19.42024 Q3 · Prepared remarks: +13.52024 Q4 · Prepared remarks: +17.32025 Q1 · Prepared remarks: +15.42008 Q1 · Q&A responses: +3.52008 Q2 · Q&A responses: -1.32008 Q3 · Q&A responses: -2.52008 Q4 · Q&A responses: -5.02009 Q1 · Q&A responses: -10.92009 Q2 · Q&A responses: -0.42009 Q3 · Q&A responses: -9.02009 Q4 · Q&A responses: +2.12010 Q1 · Q&A responses: -0.92010 Q4 · Q&A responses: -4.72011 Q1 · Q&A responses: -1.82011 Q2 · Q&A responses: +0.02011 Q3 · Q&A responses: -2.82012 Q1 · Q&A responses: +0.82012 Q2 · Q&A responses: +3.02012 Q3 · Q&A responses: +3.62012 Q4 · Q&A responses: +3.72013 Q1 · Q&A responses: +0.52013 Q2 · Q&A responses: +0.22013 Q3 · Q&A responses: +5.82013 Q4 · Q&A responses: -0.62014 Q1 · Q&A responses: +1.22014 Q3 · Q&A responses: +5.12014 Q4 · Q&A responses: +3.72015 Q1 · Q&A responses: +6.62015 Q2 · Q&A responses: +5.92015 Q3 · Q&A responses: +12.62015 Q4 · Q&A responses: +2.92016 Q1 · Q&A responses: +5.62016 Q2 · Q&A responses: +0.42016 Q3 · Q&A responses: +7.52016 Q4 · Q&A responses: +4.52017 Q1 · Q&A responses: +5.32017 Q2 · Q&A responses: +7.42017 Q3 · Q&A responses: +3.92017 Q4 · Q&A responses: +9.42018 Q1 · Q&A responses: +4.52018 Q2 · Q&A responses: +7.82018 Q3 · Q&A responses: -0.82018 Q4 · Q&A responses: +4.52019 Q1 · Q&A responses: +6.42019 Q2 · Q&A responses: +5.12019 Q3 · Q&A responses: -2.72019 Q4 · Q&A responses: +11.22020 Q1 · Q&A responses: +3.42020 Q2 · Q&A responses: +7.22020 Q3 · Q&A responses: +5.92020 Q4 · Q&A responses: +11.32021 Q1 · Q&A responses: +0.72021 Q2 · Q&A responses: +9.22021 Q3 · Q&A responses: +0.62021 Q4 · Q&A responses: -0.52022 Q1 · Q&A responses: +1.02022 Q2 · Q&A responses: -4.12022 Q3 · Q&A responses: +0.42022 Q4 · Q&A responses: -2.52023 Q1 · Q&A responses: +3.42023 Q2 · Q&A responses: +5.22023 Q3 · Q&A responses: +7.92023 Q4 · Q&A responses: +5.92024 Q1 · Q&A responses: +4.32024 Q2 · Q&A responses: +10.92024 Q3 · Q&A responses: +12.92024 Q4 · Q&A responses: +13.42025 Q1 · Q&A responses: +7.0
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.74$5.03$7.322007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22014 Q1: $3.132014 Q2: $3.192014 Q3: $3.202014 Q4: $3.102015 Q1: $3.052015 Q2: $3.092015 Q3: $3.122015 Q4: $3.152016 Q1: $3.222016 Q2: $3.382016 Q3: $3.482016 Q4: $3.322017 Q1: $3.232017 Q2: $3.332017 Q3: $3.402017 Q4: $3.412018 Q1: $3.882018 Q2: $4.052018 Q3: $4.142018 Q4: $4.182019 Q1: $4.292019 Q2: $4.382019 Q3: $4.442019 Q4: $4.442020 Q1: $4.492020 Q2: $4.402020 Q3: $4.532020 Q4: $4.862021 Q1: $4.992021 Q2: $5.172021 Q3: $5.292021 Q4: $5.272022 Q1: $5.312022 Q2: $5.302022 Q3: $5.422022 Q4: $5.452023 Q1: $5.762023 Q2: $5.962023 Q3: $6.162023 Q4: $6.372024 Q1: $6.582024 Q2: $6.672024 Q3: $7.00

Forward P/E

4.8410.5916.342007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22014 Q1: 10.112014 Q2: 9.882014 Q3: 9.122014 Q4: 9.532015 Q1: 10.422015 Q2: 10.112015 Q3: 9.442015 Q4: 9.792016 Q1: 9.692016 Q2: 10.082016 Q3: 10.332016 Q4: 10.502017 Q1: 11.202017 Q2: 11.742017 Q3: 12.062017 Q4: 12.972018 Q1: 11.612018 Q2: 11.272018 Q3: 11.502018 Q4: 10.522019 Q1: 11.532019 Q2: 12.602019 Q3: 11.852019 Q4: 11.922020 Q1: 5.632020 Q2: 8.362020 Q3: 8.212020 Q4: 9.192021 Q1: 10.372021 Q2: 10.672021 Q3: 10.332021 Q4: 10.882022 Q1: 11.792022 Q2: 10.232022 Q3: 11.102022 Q4: 12.922023 Q1: 10.632023 Q2: 11.532023 Q3: 12.412023 Q4: 13.192024 Q1: 12.752024 Q2: 13.342024 Q3: 15.55

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q1 tone ↑ +2.3 fwd EPS ↓ -0.05 Tone rose while the forward EPS estimate was cut.
  • 2015 Q4 tone ↓ -6.9 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -2.0 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -6.5 fwd EPS ↑ +0.47 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -5.1 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↓ -4.0 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -18.9 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +9.6 fwd EPS ↓ -0.09 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↓ -7.8 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -6.5 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -8.6 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+7.4——View →
2024 Q42025-02-06+10.6——View →
2024 Q32024-10-31+11.3$7.0015.6View →
2024 Q22024-08-01+12.0$6.6713.3View →
2024 Q12024-05-02+0.0$6.5812.8View →
2023 Q42024-02-01+8.6$6.3713.2View →
2023 Q32023-11-02+8.8$6.1612.4View →
2023 Q22023-08-02+5.7$5.9611.5View →